Latest Syllabus. The ICB Level 3 Certificate in Bookkeeping qualification is your pathway to being employed as a professional bookkeeper or providing the services of a self-employed bookkeeper. Upon completion of this qualification, you will be awarded the designatory letters MICB and call yourself an ICB Certified Bookkeeper.
This Level 3 qualification will allow you to :
Produce VAT returns,
Control the sales and purchases ledgers,
Post year-end adjustments
Produce the final accounts for a:
Sole trader,
Partnership,
Not-for-profit organisation
Limited liability companies.
You will also be expected to understand the basics of the various accounting standards that apply (IFRS and UKGAAP). Preparation of these accounts will not be examined at this level.
Duration Allow Approximately 120 – 180 hours average study time. Some students have completed this course in less hours while others have taken a little longer. It all depends on your personal circumstances at work and at home.
Prerequisites You will need to have completed ICB Level 2 Certificate in Bookkeeping (2014-2018) or its equivalent with another awarding body or been granted exemption. If you are unsure if this is the right package or need help in deciding please contact us by phone: 01227 789 649 or email: – info@adlhomestudy.co.uk.
Please Note: – Sage Software may not be compatible with MAC’s. Parallels can be downloaded from Apple Bootcamp enabling Windows to be installed.
On enrolment, you are allocated your own personal dedicated Professional Bookkeeping Tutor, who is there to support you all the way through the course and to provide guidance and help as you prepare for the ICB exams.
You can have as much or as little contact as you prefer. They are there for you. Contact can be made by email, phone or Skype through our online support system.
“Thank you so much for all of your support, your help has been invaluable. I am really enjoying the course so glad I decided to sign up. Doing the course has made me feel a lot more confident in my current job and who knows, it might even lead me to a better one.” Mandy, ICB Level II Package, UK
Practical (Set Tasks)
Examinations
More Information
COURSE CONTENT
The course content listed below covers the same syllabus and topics covered in the ICB exam.
What you will learn
ICB Paper M4 – Reconciliations and Final Accounts of a Sole Trader Taken at home or place of work-based assessment to include:
Underpinning knowledge
Reconciliation and correction of errors (customer and supplier reconciliations, bank reconciliation, correction of errors including the clearance of a suspense account balance)
The calculation of summary figures for control accounts
VAT Returns (cash and standard VAT returns only but including EU transactions)
Posting adjustments including disposal and acquisition of fixed assets
Revaluation of assets
Final accounts of a sole trader (profit and loss account and balance sheet)
ICB Paper M5 – Final Accounts of a Partnership Taken at home or place of work-based assessment to include:
All of the requirements for paper M4 but set in a partnership scenario plus:
Underpinning knowledge
Ethical considerations
Underpinning knowledge of the legal requirements for a partnership
Final accounts of a partnership including the appropriation account and production of partners’ current accounts
Calculations and bookkeeping entries to record a change of partnership (partnership ratios, goodwill, the effect on capital and current accounts etc.)
ICB Paper M6 – Final Accounts of a Not-for-Profit Organisation Taken at home or place of work-based assessment to include:
All of the requirements of paper M4 but set in a not-for-profit scenario plus:
Understanding the different requirements of a chart of accounts for such an organisation
Understand the concepts of the different forms of income for not-for-profit organisations including a subscriptions account
Posting adjustments including the subscriptions account and disposal and acquisition of fixed assets
Final accounts of a not-for-profit organisation
ICB Paper M7 – Management accounts of incorporated businesses Taken at home or place of work-based assessment to include:
Limited Companies: Final accounts including adjustments for a limited company (internal management accounts format only)
Limited Liability Partnerships: Employment Status in LLP’s, Final Accounts for LLP, Interest on Capital
Mark-up & Margin Calculations
Ratios and Performance Indicators• calculation and interpretation of ratios
Cash Budgets: The Cash budget, and Preparing Cash Budget Using changes in the Balance sheet
ICB Paper M8 – Level 3 External Assessment This is an external exam and covers the entire Level 3 syllabus. The assessment combines a mixture of multi-choice and data entry questions and is taken at a Pearson VUE testing centre.
GRADING
Qualifications are graded as: Distinction with Honours, Distinction, Merit or Pass
All assessments must be successfully achieved to gain the full qualification. Each assessment will generate a separate accreditation notification. The home or work place based assessments are graded as follows:
Distinction 95-100%
Merit 90-94%
Pass 85-89%
Fail 0-84%
Assessment taken at an external ICB centre will be graded as follows:
Distinction 90-100%
Merit 80-89%
Pass 70-79%
Fail 0-69%
Once all assessments have been successfully completed a final certificate will be awarded which will be graded at Distinction with Honours, Distinction, Merit or Pass. Unit percentage results will be averaged. The following average % marks show an example of how the final grade might be awarded (note the same range of marks may give a different overall result depending on the number of Passes, Merits and Distinctions achieved):
Distinction with Honours – 98% and above (with all five papers being graded at Distinction)
Distinction – 95-97% overall (with all papers graded at least at Merit or Distinction)
Merit – 90-94% (can be a mixture of individual grades)
Pass – 80-89% (can be a mixture of individual grades)
TUTOR PROFILE
Our ICB Bookkeeping tutors have over 40 years bookkeeping experience between them, are active within the bookkeeping profession, up-to-date with current bookkeeping practices and legislation and are dedicated to helping students achieve their bookkeeping goals.
Paul Evans CAPM, MICB, CB.Dip, PM.Dip, AMCollT, BSYA (Cl. Fit.)
Paul brings three decades of real-world business and bookkeeping expertise. His bookkeeping and business experiences include many international Project Management programmes, Directorships, Managerial positions and bookkeeping services. Pauls’ active participation in the bookkeeping profession ensures he is up-to-date with current accounting practices. He is a full member of the ICB. His international business background and role as a business counsellor, is an added bonus when helping students pursue their bookkeeping career.
Pauls friendly, helpful and motivating personality is a contributing factor in helping many students achieve Distinction in their ICB exams. Paul welcomes the New ICB syllabus as it will help students be better equipped to provide bookkeeeping skills and services for todays complex business world. Job opportunites, whether for self-employment or working as a bookkeeper are boundless, nationally and internationally.
Assessment
Assessment is based on a combination of completing all assignments and sitting for a final short one and a half hour exam, in your own location.
If you don’t cope well with exams then you may elect to undertake a project instead. This is a popular option.
In addition, most modules have a Set Task at the end of each lesson placed before the assignment. This is an opportunity to undertake practical work to help you acquire knowledge and skills and practical experience. This ADL feature is an added bonus not found at most online schools. Set Tasks are not required for assessment.
Some courses also have optional Self-Tests which are available on our online learning platform. These are not available by correspondence or by USB, and do not form part of your overall grade.
How our courses work
Choose Your Learning Method You choose how you would like to receive your course material, i.e., Online, USB or Correspondence. The choice is yours. You may also work on online or offline.
Tutor Allocation Every student is assigned their own dedicated tutor who is an expert in their subject area. They provide as much or as little individual contact as you require. You can contact your tutor whenever you need – your hours are not limited.
Feedback and Assignments Tutor Feedback is an essential component in helping you understand the subject matter. Tutor feedback is given in the form of notes written on the assignment. We encourage you to contact your Tutor where help with clarification and understanding of course material may be required.
Your assignments are located at the end of each lesson. You submit them for marking whenever you are ready. There is no time limit.
Set Tasks and Self-Tests Most modules have a Set Task at the end of each lesson before for the assignment. This is where you get the opportunity to undertake practical work to help you acquire knowledge, skills and practical experience. Many modules also have short Self-Tests.
Exams Once all assignments have been completed you may then elect to sit for a one and half hour exam in your own location. If you prefer not to take the exam you do have the option to undertake a project instead. Once the exam or project part of the course is completed, your Certificate is then processed. Please allow approximately 4 weeks for this.
Design Your Own Qualification ADL offers students the flexibility to self-design their own qualification – bundling together a combination of 100-hour modules into a qualification higher than a certificate.
Career Options
What's Included
ICB Exam Fees for ‘M4’, ‘M5’, ‘M6’, ‘M7’ and ‘M8’
Sage 50 Software for M4
Printed Workbooks containing lessons, examples, activities and assessments
Printed Model Answers Workbooks
Tutor Marked Assignments
Allocated your own personal Professional Bookkeeping Tutor
Prompt assignment marking
One FREE Mock exam per module
Free Postage and Packaging within the UK
FREE access to ICB’s award-winning membership benefits scheme.
*NB – Software not compatible with macs. We suggest using Apple Bootcamp to install Windows*
Control the sales and purchases ledgers,
Control the sales and purchases ledgers,
Paul Evans